In his first week in office, President Trump issued an Executive Order requiring two regulations be eliminated for every new regulation issued. The order also established an administration-wide regulatory budget as a way to limit the aggregate costs of all new regulations.

On Friday, October 20th, the Center on Regulation and Markets at Brookings examined this ambitious change in regulatory policymaking. The event included a presentation of a new paper by Brookings Economic Studies Vice President and Director Ted Gayer, Adjunct Senior Fellow at the Council on Foreign Relations Robert Litan, and Brookings Senior Fellow Philip Wallach. The paper examines the rationale for Trump’s regulatory changes, the lessons from other countries, the legal and practical challenges, and the best and worst case scenarios for the new processes.

Following a short presentation of the research, there was a panel discussion with former Administrators of the Office of Information and Regulatory Affairs (OIRA), Susan Dudley and Howard Shelanski, moderated by Bloomberg reporter Cheryl Bolen.